Double Tax Day Is How It Feels To Me
Sigh!
So I sent off both my federal and state income tax for last year a little over a week ago. I knew I could wait until today, but I wanted it out of my hair.
Of course, I had “forgotten” that April 15th also marks the time to send in estimated tax - a lovely requirement for many of us who are freelance writers. I wasn’t going to do it. After all, I told myself, I’d already sent them a big hunk… it didn’t matter that I had more than enough saved. I didn’t want to send more… not so soon.
Double sigh!
So I climbed down off my high horse (where did that saying come from?), bit the bullet, transfered some money from one account to another and went ahead and put the estimated tax in the mail Sunday, and I grudgingly watched the postman take it away Monday after noon.
My accountant is catatonic about now… but in May, when he’s conscious again, I want to ask him about sheltering some money next year… I’ll keep you posted.
By the way, Kristin King, writer and blogger at BizChicksRule is taking a poll - have you paid your taxes? Go get yourself counted.
Write well and often,
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Tags: , authors, freelance-writing, income-tax, self-employment tax, state-tax, work-at-home, writers and taxes, writingRelated Stories
POSTED IN: Business of Freelance Writing, Musings From A Freelance Writer
6 opinions for Double Tax Day Is How It Feels To Me
Trisha
Apr 15, 2008 at 10:12 am
My accountant said I didn’t need to do estimated taxes. Well, because he doesn’t think I’ll have to pay a lot next year, if anything. Which is good. I dread the year that I have to start paying quarterly!
Kristen King
Apr 15, 2008 at 10:14 am
Thanks for the link, Anne!
kk
Joan
Apr 15, 2008 at 10:14 am
For the first time in years, I got the return mailed in March. That’s an amazing accomplishment, all things considered. The estimated is a tip of the iceberg.
Anne Wayman
Apr 15, 2008 at 11:07 am
Joan, believe me, I know… congrats!
Kristen - you’re welcome
Trisha - my suggestion is you save for taxes anyway… that way if you have to pay you’ll be able to… and if you don’t, you’ll have some money in savings which always feels good.
Lori
Apr 15, 2008 at 12:24 pm
Oh, I agree. That estimated tax payment right now HURTS!
Anne Wayman
Apr 15, 2008 at 4:10 pm
otoh, it’s X amount down for next year….
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